Americas Gold and Silver Corporation (USAS) Balance Sheet
USAS balance sheet, 2025
December 31, 2025 · U.S. dollars$413.0M assets = $191.4M liabilities + $221.6M equity
Both columns are drawn to the same scale: what USAS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
USAS financial health
Descriptive bands, not a rating. Fiscal 2025.
USAS balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $117.3M2016 | $413.0M2025 | +15.0%/yr | |
| Total liabilities | $30.1M2016 | $191.4M2025 | +22.8%/yr | |
| Shareholders’ equity | $87.1M2016 | $221.6M2025 | +10.9%/yr | |
| Cash & short-term investments | $24.6M2016 | $129.8M2025 | +20.3%/yr | |
| Total debt | $7.8M2016 | $45.7M2025 | +21.8%/yr | |
| Net cash (debt) | $16.8M2016 | $84.1M2025 | +$67.3M | |
| Working capital | $20.1M2016 | $67.5M2025 | +$47.4M | |
| Book value per share | $1.952019 | $0.832025 | −13.3%/yr | |
| Current ratio | 2.222016 | 1.782025 | −0.43 | |
| Debt / equity | 0.092016 | 0.212025 | +0.12 | |
| Shares outstanding | 71.4M2019 | 267.3M2025 | +24.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
USAS assets
USAS liabilities and equity
USAS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
USAS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $129.8M | $20.0M | $2.1M | $2.0M | $2.9M | $4.7M | $20.0M | $3.5M | $9.3M | $24.6M |
| Cash & equivalents | $129.8M | $20.0M | $2.1M | $2.0M | $2.9M | $4.7M | $20.0M | $3.5M | $9.3M | $24.1M |
| Short-term investments | — | — | $10,545 | — | — | — | — | — | $0 | $503,000 |
| Receivables | $8.9M | $3.6M | $9.5M | $5.6M | $4.7M | $5.1M | $5.3M | $9.6M | $6.6M | $4.0M |
| Inventory | $10.7M | $10.7M | $8.7M | $8.8M | $10.0M | $8.1M | $7.2M | $8.1M | $9.4M | $6.6M |
| Other current assets | $4.4M | $6.4M | $2.8M | $9.0M | $5.9M | $2.2M | $2.5M | $8.2M | $869,000 | $1.4M |
| Total current assets | $153.7M | $40.7M | $23.0M | $25.4M | $23.5M | $20.1M | $34.9M | $29.4M | $26.2M | $36.6M |
| Property, plant & equipment (net) | $248.8M | $147.4M | $153.1M | $161.3M | $177.9M | $259.3M | $190.4M | $96.4M | $100.3M | $80.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $2.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4,000 | $28,000 |
| Other non-current assets | $7.7M | $4.5M | $4.4M | $4.1M | $12.0M | $5.4M | $5.7M | $1.3M | $331,000 | $151,000 |
| Total assets | $413.0M | $192.6M | $180.5M | $190.8M | $213.4M | $284.8M | $231.0M | $127.2M | $126.8M | $117.3M |
| Liabilities | ||||||||||
| Accounts payable | $38.8M | $36.7M | $23.0M | $25.7M | $17.3M | $18.5M | $22.7M | $14.3M | $10.4M | $8.7M |
| Short-term debt | — | $15.5M | $21.9M | $4.0M | $14.2M | $12.0M | $5.6M | $8.6M | $4.0M | $7.8M |
| Deferred revenue | $34.6M | $13.7M | $12.5M | $11.3M | $12.0M | $4.0M | $2.0M | — | — | — |
| Total current liabilities | $86.2M | $69.4M | $61.2M | $42.1M | $45.7M | $39.0M | $34.8M | $23.0M | $14.4M | $16.5M |
| Long-term debt | $45.7M | $7.4M | $0 | $9.6M | $8.7M | $18.5M | $16.3M | $5.5M | $11.0M | $0 |
| Other long-term liabilities | $59.5M | $62.3M | $47.1M | $40.5M | $55.3M | $46.1M | $40.9M | $14.5M | $13.4M | $13.7M |
| Total liabilities | $191.4M | $139.2M | $108.3M | $92.2M | $109.6M | $103.7M | $92.0M | $43.0M | $38.8M | $30.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $812.6M | $573.5M | $455.5M | $449.4M | $423.1M | $350.7M | $284.7M | $212.9M | $207.0M | $202.2M |
| Retained earnings (deficit) | −$668.7M | −$591.0M | −$463.4M | −$428.8M | −$387.9M | −$230.3M | −$203.1M | −$170.1M | −$160.0M | −$156.1M |
| Accumulated other comprehensive income | $77.8M | $70.9M | $61.3M | $60.7M | $57.9M | $49.2M | $44.8M | $41.4M | $41.0M | $41.1M |
| Minority interest | $0 | $0 | $18.8M | $17.4M | — | — | — | — | — | — |
| Total shareholders' equity | $221.6M | $53.4M | $53.4M | $81.2M | $93.1M | $169.7M | $139.0M | $84.2M | $88.1M | $87.1M |
| Key figures | ||||||||||
| Total debt | $45.7M | $24.0M | $21.9M | $15.5M | $24.4M | $34.3M | $21.9M | $14.1M | $15.0M | $7.8M |
| Net cash (debt) | $84.1M | −$4.0M | −$19.8M | −$13.5M | −$21.5M | −$29.6M | −$2.0M | −$10.6M | −$5.7M | $16.8M |
| Working capital | $67.5M | −$28.7M | −$38.2M | −$16.7M | −$22.1M | −$19.0M | $145,000 | $6.4M | $11.8M | $20.1M |
| Tangible book value | $221.6M | $53.4M | $53.4M | $81.2M | $93.1M | $169.7M | $139.0M | $84.2M | $88.1M | $87.1M |
| Book value per share | $0.83 | $0.50 | $0.63 | $0.44 | — | $1.63 | $1.95 | — | — | — |
| Shares outstanding | 267.3M | 106.0M | 85.1M | 184.4M | — | 103.9M | 71.4M | — | — | — |
| Current ratio | 1.78 | 0.59 | 0.38 | 0.60 | 0.52 | 0.51 | 1.00 | 1.28 | 1.82 | 2.22 |
| Quick ratio | 1.61 | 0.34 | 0.19 | 0.18 | 0.17 | 0.25 | 0.73 | 0.57 | 1.11 | 1.73 |
| Debt / equity | 0.21 | 0.45 | 0.41 | 0.19 | 0.26 | 0.20 | 0.16 | 0.17 | 0.17 | 0.09 |
| Equity / assets | 53.7% | 27.7% | 29.6% | 42.6% | 43.6% | 59.6% | 60.2% | 66.2% | 69.4% | 74.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $88.8M | $122.8M | $129.8M | $39.1M | $61.7M | $8.8M | $20.0M | $7.2M | $3.6M | $3.9M | $2.1M | $890,000 |
| Cash & equivalents | $88.8M | $122.8M | $129.8M | $39.1M | $61.7M | $8.8M | $20.0M | $7.2M | $3.6M | $3.9M | $2.1M | $890,000 |
| Receivables | $18.4M | $22.0M | $8.9M | $10.6M | $10.4M | $5.7M | $3.6M | $7.5M | $11.7M | $4.6M | $9.5M | $4.4M |
| Inventory | $16.5M | $14.3M | $10.7M | $10.2M | $8.2M | $8.3M | $10.7M | $8.8M | $7.9M | $8.4M | $8.7M | $9.3M |
| Other current assets | $3.6M | $5.7M | $4.4M | $5.4M | $3.6M | $7.1M | $6.4M | $3.3M | $3.2M | $6.0M | $2.8M | $4.1M |
| Total current assets | $127.3M | $164.9M | $153.7M | $65.3M | $83.8M | $29.8M | $40.7M | $26.8M | $26.4M | $22.9M | $23.0M | $18.6M |
| Property, plant & equipment (net) | $296.8M | $263.9M | $248.8M | $163.4M | $155.8M | $149.9M | $147.4M | $148.1M | $149.5M | $152.5M | $153.1M | $160.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $2.9M | $2.8M | $2.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.8M | $8.4M | $7.7M | $6.0M | $4.6M | $4.6M | $4.5M | $4.5M | $4.4M | $4.4M | $4.4M | $4.3M |
| Total assets | $431.8M | $440.0M | $413.0M | $234.7M | $244.3M | $184.3M | $192.6M | $179.4M | $180.3M | $179.8M | $180.5M | $183.3M |
| Liabilities | ||||||||||||
| Accounts payable | $61.7M | $43.1M | $38.8M | $30.7M | $41.0M | $30.9M | $36.7M | $25.0M | $25.8M | $26.6M | $23.0M | $23.4M |
| Short-term debt | $11.0M | $12.3M | — | $2.5M | $3.0M | $7.0M | $15.5M | $17.4M | $20.1M | $7.3M | $21.9M | $3.5M |
| Deferred revenue | — | $40.2M | $34.6M | $26.4M | $20.1M | $16.3M | $13.7M | $14.9M | $13.8M | $13.6M | $12.5M | $13.5M |
| Total current liabilities | $78.7M | $97.8M | $86.2M | $71.8M | $73.4M | $57.6M | $69.4M | $63.3M | $65.2M | $51.9M | $61.2M | $43.9M |
| Long-term debt | $43.6M | $45.0M | $45.7M | $48.1M | $50.9M | $5.7M | $7.4M | $9.4M | $0 | $13.8M | $0 | $15.0M |
| Other long-term liabilities | $13.7M | $57.8M | $59.5M | $64.6M | $63.7M | $65.5M | $62.3M | $53.7M | $47.8M | $48.0M | $47.1M | $41.1M |
| Total liabilities | $136.1M | $200.6M | $191.4M | $184.5M | $188.0M | $128.9M | $139.2M | $126.3M | $113.0M | $113.7M | $108.3M | $100.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $878.7M | $823.6M | $812.6M | $615.9M | $609.1M | $594.1M | $573.5M | $464.8M | $462.1M | $459.5M | $455.5M | $455.1M |
| Retained earnings (deficit) | −$662.0M | −$661.2M | −$668.7M | −$640.5M | −$624.8M | −$610.6M | −$591.0M | −$495.7M | −$481.2M | −$476.8M | −$463.4M | −$452.5M |
| Accumulated other comprehensive income | $79.0M | $77.0M | $77.8M | $74.8M | $71.9M | $72.0M | $70.9M | $65.4M | $65.5M | $64.8M | $61.3M | $62.0M |
| Minority interest | — | — | $0 | $0 | $0 | — | — | — | — | — | — | — |
| Total shareholders' equity | $295.7M | $239.4M | $221.6M | $50.2M | $56.3M | $55.4M | $53.4M | $34.5M | $46.4M | $47.6M | $53.4M | $64.6M |
| Key figures | ||||||||||||
| Total debt | $55.7M | $59.0M | $45.7M | $50.6M | $53.9M | $13.6M | $24.0M | $26.8M | $20.1M | $22.3M | $21.9M | $19.6M |
| Net cash (debt) | $33.1M | $63.8M | $84.1M | −$11.5M | $7.8M | −$4.8M | −$4.0M | −$19.6M | −$16.5M | −$18.4M | −$19.8M | −$18.7M |
| Working capital | $48.6M | $67.0M | $67.5M | −$6.5M | $10.4M | −$27.8M | −$28.7M | −$36.5M | −$38.9M | −$29.0M | −$38.2M | −$25.3M |
| Tangible book value | $295.7M | $239.4M | $221.6M | $50.2M | $56.3M | $55.4M | $53.4M | $34.5M | $46.4M | $47.6M | $53.4M | $64.6M |
| Book value per share | $0.90 | $0.69 | $0.83 | $0.19 | $0.21 | $0.21 | $0.20 | $0.13 | $0.18 | $0.21 | $0.24 | $0.30 |
| Shares outstanding | 329.5M | 345.8M | 267.3M | 265.0M | 265.0M | 265.0M | 265.0M | 262.6M | 252.6M | 221.9M | 218.7M | 215.7M |
| Current ratio | 1.62 | 1.69 | 1.78 | 0.91 | 1.14 | 0.52 | 0.59 | 0.42 | 0.40 | 0.44 | 0.38 | 0.42 |
| Quick ratio | 1.36 | 1.48 | 1.61 | 0.69 | 0.98 | 0.25 | 0.34 | 0.23 | 0.23 | 0.16 | 0.19 | 0.12 |
| Debt / equity | 0.19 | 0.25 | 0.21 | 1.01 | 0.96 | 0.25 | 0.45 | 0.78 | 0.43 | 0.47 | 0.41 | 0.30 |
| Equity / assets | 68.5% | 54.4% | 53.7% | 21.4% | 23.0% | 30.1% | 27.7% | 19.2% | 25.7% | 26.5% | 29.6% | 35.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 30, 2026); data from EODHD.
USAS financial position
At the end of fiscal 2025 (December 31, 2025), Americas Gold and Silver had total assets of $413.0 million (up 114.4% from a year earlier), total liabilities of $191.4 million and shareholders' equity of $221.6 million. It held $129.8 million in cash and short-term investments against $45.7 million of debt, a net cash position of $84.1 million. Its current ratio was 1.78. In the latest quarter (ended June 30, 2026) total assets were $431.8 million and equity $295.7 million.
Related: USAS income statement, USAS cash flow statement, USAS key metrics. See the USAS stock overview for the latest quote and news.
USAS balance sheet FAQ
What are Americas Gold and Silver's total assets?
Americas Gold and Silver reported total assets of $413.0 million at the end of fiscal 2025 (December 31, 2025), compared with $192.6 million a year earlier.
How much debt does Americas Gold and Silver have?
Americas Gold and Silver had $45.7 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.21.
How much cash does Americas Gold and Silver have?
Americas Gold and Silver held $129.8 million in cash and short-term investments at the end of fiscal 2025; with $45.7 million of debt that is net cash of $84.1 million.
What is Americas Gold and Silver's book value?
Americas Gold and Silver's shareholders' equity (book value) was $221.6 million at the end of fiscal 2025, or $0.83 per share.
What is Americas Gold and Silver's current ratio?
Americas Gold and Silver had current assets of $153.7 million and current liabilities of $86.2 million, a current ratio of 1.78 (it can cover its short-term obligations).